Advanced Micro Devices (NASDAQ:AMD) Trading 4.3% Higher

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) were up 4.3% during trading on Thursday . The company traded as high as $134.23 and last traded at $134.23. Approximately 15,748,145 shares changed hands during trading, a decline of 75% from the average daily volume of 63,859,219 shares. The stock had previously closed at $128.67.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMD shares. Bank of America cut their price target on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Roth Mkm lowered their price target on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Truist Financial reduced their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Barclays reduced their price target on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. Finally, UBS Group lowered their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Down 1.5 %

The firm’s fifty day moving average is $156.96 and its 200-day moving average is $166.64. The stock has a market capitalization of $217.02 billion, a PE ratio of 197.46, a PEG ratio of 1.79 and a beta of 1.69. The company has a quick ratio of 1.92, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.58 earnings per share for the current year.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently added to or reduced their stakes in AMD. Norges Bank purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $3,426,529,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Advanced Micro Devices by 813.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,647,457 shares of the semiconductor manufacturer’s stock valued at $685,089,000 after acquiring an additional 4,138,612 shares during the period. Capital World Investors increased its stake in Advanced Micro Devices by 176.9% during the fourth quarter. Capital World Investors now owns 4,668,542 shares of the semiconductor manufacturer’s stock worth $688,190,000 after acquiring an additional 2,982,704 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Advanced Micro Devices by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock worth $1,402,412,000 after purchasing an additional 2,979,204 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Advanced Micro Devices by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after purchasing an additional 2,553,392 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.